WANADA reminds dealers that they may no longer use old Used Car Buyer’s Guides after Saturday of this week, Jan. 27, 2018. The original effective date to start using the revised guide format was a year ago, Jan. 27, 2017, but dealers were allowed to use up their inventory of old forms for 12 months after that.
That grace period ends tomorrow, Jan. 27. All dealers must attach the revised form to every used vehicle for sale and on display for consumers after that date. Fines for noncompliance can run up to $40,654 per violation!
Dealers may ask their forms company about obtaining the revised Used Car Buyer’s Guide, or may download a copy from the FTC website. It is important to use the wording, type style, type sizes and format specified in the Rule. Completion of the revised guide is generally similar to the old guide. The FTC has provided directions and guidance that can be accessed here.